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court case of a couple of years ago and, obviously, municipal concerns like the city of detroit. define for us what exactly is eminent domain? >> guest: well, thank you, bill. and, again, it's a pleasure to be back on "washington journal." eminent domain is the power of government to take private property. it's actually a very old power. kings in europe exercised it hundreds of years ago. garage -- gradually the custom arose that people have to be compensated when their property was taken. and it was certainly an attribute of the british crown. so after the revolution the states had the power, and interestingly the fifth amendment to the federal constitution says that nor shall private property be taken without just compensation. it doesn't actually give the federal government the power, it simply assumes that as a sovereign the federal government has that power. >> and was that fifth amendment built into the constitution based on the experiences of the colonies with the crown? >> well, this is a very fascinating point because the crown had abused the colonies in, many ways. so you have
painful constraints to calm as we have seen in europe and detroit last week? >> you no, you framed this all very well. i think it's so important as tommy said to put things in context. when i go back to those years, it was an extraordinary time in american fiscal history. i will never forget being called to an emergency meeting in the fall of 2008 to the majority leader's office. i was the last to arrive because i had been chairing a meeting on energy and another part of the capitol complex and i walked then and there were 16 or 17 people in the room leaders in the house and senate republicans and democrats. the chairman of the federal reserve and the secretary of the treasury of the bush administration and it was about 6:00 in the evening. they actually posted a guard at the door and close the door. it was very unusual as you know. i knew something dramatic was afoot. and i sat down and the meeting began. this degree of the treasure in the chairman of the federal reserve told us they were taking over aig the large insurance company the next day. they made very clear they were not
, but treating affects down here. and the most dramatic example of that, of course, is stuxnet which detroit about 1000 centrifuges. stuxnet almost what i conducted by a nationstate because it's too complicated to be done in a garage or in your basement, all right? look, given my background, former director of cia, i think it's absolute unavoidable good. but i'll describe what i just described to you in just like they did forward. somewhat almost certain initiative during a time of these just use a cyber weapon to destroy another nation's critical infrastructure. ouch. that's a big deal. you may or may not see me making a comment on 60 mins about a year and a half ago in which i can characterize that as somebody crossing a river gone, got a leaking on the other side of the river, and life will be very different. so those are your sins. stealing your stuff, disrupting the network, destroying their infrastructure. who are the sinners? nationstates. you know that. criminal elements, and then finally this third group that it would have trouble defining, nihilists, anarchists, activists, losec, a
Search Results 0 to 2 of about 3